https://www.taxtmi.com/caselaws?id=407506 The Tribunal found the assumption of jurisdiction under Section 148 invalid and quashed the assessment order due to the Assessing Officer's lack of proper application of mind. The addition of Rs. 20.40 lakhs in the assessment was deemed unsustainable as there was no new material and a failure to verify information, leading to the conclusion that the re-assessment proceedings were invalid and not in accordance with the law. The assessment order was ultimately quashed based on these grounds. en-us Tue, 27 Apr 2021 00:00:00 +0530 Thu, 13 May 2021 08:27:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407506 The Tribunal found the assumption of jurisdiction under Section 148 invalid and quashed the assessment order due to the Assessing Officer's lack of proper application of mind. The addition of Rs. 20.40 lakhs in the assessment was deemed unsustainable as there was no new material and a failure to verify information, leading to the conclusion that the re-assessment proceedings were invalid and not in accordance with the law. The assessment order was ultimately quashed based on these grounds. Case-Laws Income Tax Tue, 27 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407506